Speaking of that, I might as well provide some supprting evidence from a different part of the tech industry. Most people don't know that right now Blackrock and Coinbase are attempting a coup on the US dollar by seeking access to central bank liability for their stable coin? The Coinbase CEO even said it out loud that this year his stable coin will become the de facto central bank digital currency. I suspect that they have indirectly bribed someone at the Fed (how else does that work? esp since the Fed chairmen has come out strongly against stablecoins) and are basically trying to get the ability to get Fed loans at the Fed rate and loan out at the commercial bank rate without being a bank and by using a coin which they can mint themselves, so all the profits from interest create more reserves and the cycle keeps going. It is literally insane. The threat from Google and Microsoft to society pales in comparison. I may not have my understanding 100% correct but all banks are up in arms about it and the average person on HN has no clue this is happening. Just Google Blackrock, USDC and the Fed. The banks are calling it a backdoor CBDC.
Yes, Blackrock and Coinbase have partnered up to provide crypto trading access to Blackrock clients but how are they attempting a coup on the US dollar?
You'll have fuedal lords (aka billionaires) in control of the digital money supply. How is that not a coup?